- Kevin O'Leary says that the Bitcoin Strategic Reserve “will never happen”.
- He criticizes Michael Saylor for pushing a selfish Bitcoin program.
Shark Tank star Kevin O'Leary rejected the idea of an American strategy Bitcoin Reserve. Speaking during a debate with the founder of Skybridge, Anthony Scaramucci, O'Leary said that the proposal “will never arrive”. He cited a lack of bipartite support and questioned the motivations of the defenders of Bitcoin like Michael Saylor.
The exchange took place on the official YouTube channel of Scaramucci. The two investors answered a question of audience on the bill of Senator Cynthia Lummis. The bill proposes that the US Treasury acquire 1 million BTC to strengthen the dollar and reduce debt.
O'Leary vs Saylor: Sparks Sharp Fivid of Bitcoin Strategic reserve
O'Leary openly critical Saylor, the president of Microstrategy, for the promotion of the bill. “Saylor talks about his book,” he said. He argued that the microstrategy strategy is based strongly on overvalued stocks, privileged actions and debt.
He also said that the commercial company twice the value of its Bitcoin holdings. According to O'Leary, such a model lacks long -term viability. He said that promoting this approach to national policy was misleading and unproductive.
Instead, O'Leary thinks that the United States should focus on the regulation of Stablescoin. It expects the congress to adopt laws that support the digital dollar movement with a minimum cost. He disclosed his USDC property and underlined his low transfer costs compared to traditional banks.
On the other hand, Scaramucci supported the Bitcoin reserve strategic bill. He thinks it could benefit the US economy in the long term. He referred to David Sacks, Trump's cryptography advisor, who urged prudence and bipartite action.
Scaramucci stressed that only republican support could turn against him. He noted that executive action without inter-party support could lead to future inversions. He stressed that the next six months are crucial to building a wider consensus.
In addition, he argued that Bitcoin could join the 27 existing strategic reserves of the United States. These include gold and oil, make bitcoin a logical addition, in its opinion. Meanwhile, Saylor continues to show an example. His business recently acquired $ 180.3 million in Bitcoin. This brought the total stratute assets to 555,450 BTC.
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